Five Point Holdings LLC (FPH) Major Shareholder Sells $25,440,000.00 in Stock

Five Point Holdings LLC (NYSE:FPH) major shareholder Anchorage Capital Group, L.L.C sold 3,200,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $7.95, for a total value of $25,440,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Five Point stock opened at $8.45 on Thursday. Five Point Holdings LLC has a one year low of $6.64 and a one year high of $12.51. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -23.47 and a beta of 1.15.

Five Point (NYSE:FPH) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($0.03) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.03). Five Point had a negative return on equity of 2.35% and a negative net margin of 12.05%. The firm had revenue of $7.95 million for the quarter. On average, equities analysts forecast that Five Point Holdings LLC will post -0.11 earnings per share for the current year.

A number of equities analysts have recently weighed in on FPH shares. Royal Bank of Canada set a $10.00 target price on Five Point and gave the stock a “buy” rating in a research note on Tuesday, March 19th. TheStreet upgraded Five Point from a “d+” rating to a “c-” rating in a research note on Wednesday, May 8th. Deutsche Bank lowered their target price on Five Point from $15.00 to $8.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. Zacks Investment Research lowered Five Point from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Finally, JMP Securities lowered their target price on Five Point from $19.00 to $12.00 and set a “market outperform” rating on the stock in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $9.50.

A number of institutional investors have recently bought and sold shares of FPH. First Manhattan Co. bought a new position in Five Point during the 4th quarter worth $69,000. Great West Life Assurance Co. Can boosted its holdings in shares of Five Point by 175.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 11,690 shares of the company’s stock valued at $84,000 after purchasing an additional 7,446 shares in the last quarter. Raymond James & Associates acquired a new stake in shares of Five Point in the 1st quarter valued at $87,000. Northern Trust Corp boosted its holdings in shares of Five Point by 17.7% in the 4th quarter. Northern Trust Corp now owns 14,967 shares of the company’s stock valued at $104,000 after purchasing an additional 2,256 shares in the last quarter. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of Five Point in the 4th quarter valued at $111,000. Hedge funds and other institutional investors own 34.75% of the company’s stock.

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Five Point Company Profile

Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, plans, develops, and owns mixed-use communities in California, the United States. The company operates through four segments: Newhall, San Francisco, Great Park, and Commercial. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers; operates properties; and provides development management services.

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